Residential Development For Sale
REDUCED PRICE: A drop of 10% from £3.0m to £2.7m.
Description
The property forms a terrace of 8 houses built in 2011 comprising, 7no. three storey units and 1no. two-storey flat over ground (FOG) unit with 63 lettable rooms in all, as well as with facilities and living areas. 58 of the rooms have shared bathrooms whilst 5 have ensuite bathrooms.
Vehicular access is direct from Hearsall Lane. At the rear of the site there are parking spaces for 13 cars and a covered cycle store for approximately 37 bicycles.
Location
The property is located in Coventry, to the west of the city centre, on the southeastern side of Hearsall Lane (B4101) in an area popular with students and young professionals. The city centre is around a mile to the east (20-25 minute walk). Coventry University has over 30,000 students whilst Warwick University has around 29,000. Coventry College, a further education college, has c. 12,000 students.
Distances to the main university campuses are:
Mile Lane, Coventry University: 1.4 miles
Priorty Street, Coventry University: 1.7 miles
Warwick University campus: 2.5 miles
 A number of bus services are available to the university campuses and city centre from or near Hearsall Lane.
Tenancies
Letting of the property following partial refurbishment commenced in January 2024. 7 of the 8 houses are the subject of corporate lets, 1 of the houses being let room by room. At the time of going to press, all of the 63 rooms were let. The 6 corporate lets are for terms of between 3 and 5 years with landlord/tenant break options after the first year. The majority of bills are the tenants’ responsibility. Repairing obligations remain with the landlord. Tenant/landlord resposibilities are summarised in a tenancy schedule which is available from Whozoo on request.
The passing rent is £247,680. Assuming landlord’s costs (for managing agent’s fees and bills) of £34,000 suggests an investor would receive a net operating income of approximately £214,000.
Tenure: Freehold
EPC
Broadband
Standard
9Mbps
Download speed
Download speed
.9Mbps
Upload speed
Upload speed
SuperFast
64Mbps
Download speed
Download speed
15Mbps
Upload speed
Upload speed
UltraFast
1Gbps
Download speed
Download speed
1Gbps
Upload speed
Upload speed
Powered by 
Broadband & mobile data availability at 1-8 Wells Terrace, 87 Hearsall Lane, Coventry, West Midlands, CV5
Address shown above is the closest found to the postcode, that has Ofcom data available
Broadband & mobile data availability at 1-8 Wells Terrace, 87 Hearsall Lane, Coventry, West Midlands, CV5
Address shown above is the closest found to the postcode, that has Ofcom data available
Mobile Coverage
 |
Voice | Indoor |
Outdoor |
| Data | Indoor |
Outdoor |
 |
Voice | Indoor |
Outdoor |
| Data | Indoor |
Outdoor |
 |
Voice | Indoor |
Outdoor |
| Data | Indoor |
Outdoor |
 |
Voice | Indoor |
Outdoor |
| Data | Indoor |
Outdoor |
Utilities
| Electricity | Ask Agent |
| Water | Ask Agent |
| Heating | Ask Agent |
| Broadband | Ask Agent |
| Sewerage | Ask Agent |
Rights and Restrictions
| Private rights of way | No |
| Public rights of way | No |
| Restrictions | Ask Agent |
| Parking | Ask Agent |
Risks
| Flooded in last 5 years | No |
| Flood Defenses | No |
| Source of Flood | Ask Agent |
Other properties you might be interested in
Residential Development For Sale
Hollington House, 1 Parklands, Kingston upon Thames, London, KT5
£2,100,000
- Floor area: 2,922 sq. ft. (271 sq. m.)
Retail Property - High Street For Sale
655 Barking Road, London Borough of Newham, London, E13
£2,000,000
- 0.1 acres
- Floor area: 4,984 sq. ft. (463 sq. m.)
Industrial Development For Sale
Unit D, Redlands, Coulsdon, London, CR5
£2,750,000
- Floor area: 9,806 sq. ft. (911 sq. m.)
Hotel For Sale
The Pear Tree Inn & Country Hotel, Smite Hill, Worcester, Worcestershire, WR3
£2,750,000
- 9.18 acres
- Floor area: 400,090 sq. ft. (37,169 sq. m.)
Light Industrial For Sale
Clayford Farm, Clayford, Wimbourne, Dorset, BH21
£2,000,000
- 1.12 acres
- Floor area: 18,391 sq. ft. (1,709 sq. m.)
